09.10.2025
Solstad Maritime ASA – – update to its financial guidance for 2025 – trading update
Skudeneshavn, 9 October 2025
Based on the latest projections, Solstad Maritime ASA (the “Company”) has adjusted its full-year 2025 Adjusted EBITDA guidance from USD 360 – 380 million to approximately USD 290 million.
While the Company in its previous guidance expected the second half of 2025 to show a notable improvement compared to the first half year, such improvement is no longer considered realistic. The main drivers for the adjusted guidance are related to the following:
· North Sea AHTS Spot market has been weaker than expected in Q3 2025
· Lower utilization of parts of the CSV “spot” fleet during Q3 2025 and expected for Q4 2025
· Delays during Q3 2025 in CSV Class Renewal projects
· Mobilization for Brazil Petrobras contracts is expected to begin earlier in Q4 2025, due to the earlier-than-planned commencement of these contracts in Q1 2026.
Based on a preliminary assessment of the unaudited consolidated management accounts, the Company is expected to record an Adjusted EBITDA of approximately USD 69 million for Q3 2025 and approximately USD 229 million for YTD Q3 2025.The Company is still in the process of preparing and completing the financial results for the third quarter of 2025, which is subject to finalization and other potential adjustments, if any, and the information has not been audited or reviewed by the auditor of the Company. The Company will provide further information when releasing the quarterly results for Q3 2025 on 30 October 2025.
Lars Peder Solstad, CEO of Solstad Maritime ASA, says: “We have not seen the offshore energy markets develop as guided for the second half of the year. This has resulted in lower fleet utilization and reduced commercial margins. Earlier mobilization of several vessels preparing to commence long-term contracts in Brazil has also contributed to the picture. In these cases, lost revenue and increased costs in Q4 2025 will result in earlier contract commencement and hence be positive for the 2026 earnings.
It is disappointing that we must revise our EBITDA guiding for the full year 2025. This reflects the volatility in the markets we operate in, however, we remain positive about the global offshore energy markets. We have a healthy and substantial backlog and continue to see new market opportunities.”
Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89
Solstad Maritime ASA
www.solstad-maritime.com